Flutterwave, the largest payment technology company in Africa, has launched Tuition, a new payment product, to enable African users to pay various fees to educational institutions in Africa and abroad using their local currency. Educational institutions available for teaching include high schools, universities, colleges, and some global edutech platforms. Tuition Fees is designed to solve the tuition payment problems of students studying abroad and at home with the aim of facilitating payment during business hours. The new service allows students, parents, guardians, and sponsors to pay school fees at 40 institutions in the UK, with plans to add more institutions to other countries in Africa and beyond. It has been reported that Africans' funding of foreign schools has been hampered by a number of challenges.
With high transaction costs, limited access to banking services, lack of transparency, security issues, and exchange rates, Africans struggle to ensure that their money is transferred quickly to foreign financial institutions. The new product will use Flutterwave's world-class payment technology to make tuition payments easier, safer, and more reliable. Parents, guardians, and sponsors can pay directly to education institutions in the UK and quickly track their transactions by checking their status and history on the Tuition web application. The product is currently available in Nigeria for UK tuition fees and will soon be rolled out to other African countries next month. Flutterwave plans to add more schools in Africa, the UK, the US, Canada, France, and Germany as it expands access to the product.
“We are excited to launch Tuition to support the dreams of African students across all levels who want to study anywhere without worrying about how to meet the deadline for their school fees payment. With Tuition, we are providing a safer, reliable, and affordable means for African students to pursue their dreams and seamlessly get financial support from parents, guardians, and sponsors.” Olugbenga “GB” Agboola, Flutterwave CEO,
Speaking on the new product launch, Stella Elele, Product Manager of Tuition by Flutterwave, said: “We are always looking for new ways to make payment challenges in Africa hassle-free, and we are confident that Tuition will be a game changer for parents who want to support their children’s education. We are excited to offer this solution to parents in Nigeria, with plans to eventually roll out the service to other African countries. We want to provide the best possible service and support for our customers.”
